Report: Target Exploring Proprietary Mobile Pay Option

With Walmart, Apple, Samsung and Alphabet now offering mobile pay options to consumers, Target may soon join them with its own mobile wallet feature, Reuters reported on Friday.

According to the report, the Minneapolis-based retailer has not committed to launch its mobile wallet feature just yet, but two sources in the Reuters report said a possible launch could happen in the first part of 2016. The mobile payment option, if launched, would permit shoppers to pay for items through an app on mobile devices.

Previously, Target had backed the development of CurrentC, a mobile pay option that also has the support of other merchants including Walmart, Kohl’s, Dunkin’ Donuts and Exxon.

Walmart also recently introduced its own mobile payment option, Walmart Pay. The retailer characterized it as a fast, easy and secure way for customers to pay with their smartphones in Walmart-operated stores. Walmart will introduce the mobile payment feature in select stores beginning this month, with a nationwide launch to be complete by the first half of next year.

A Target spokesperson told Reuters the company is still working with Merchant Customer Exchange, the developer of CurrentC, but noted that the retailer is exploring other mobile pay solutions. The spokesperson declined to comment on whether Target was developing its own mobile pay option.

Current Issue

Editor-in-Chief Peter Giannetti previews this week’s 2020 Retail Champions edition, an adaptation of the long-running HomeWorld Business Retailer Of The Year issue. This special report details how six key retailers— Amazon, Walmart, Target, Costco, Home Depot and Kroger— are positioned to lead the post-COVID rebuild of what is expected to be a dramatically realigned retail landscape.
Play video